The market for cryptocurrencies is booming. As a result, many companies and businesses are turning to cryptocurrencies as a legitimate means of payment.
With over 5,000 cryptocurrencies, choosing the best cryptocurrencies can be overwhelming, especially if you are a beginner in the crypto world. We’ve looked at the current best cryptocurrencies to invest in before the end of 2021.
Bitcoin (BTC) is the first cryptocurrency created in 2009 by a man under the pseudonym Satoshi Nakamoto. It leads the industry in terms of price, market capitalization, and volume.
Many businesses now accept bitcoin as a form of payment. For example, Visa processes its transactions with Bitcoin, Tesla has invested around $1.5 billion in Bitcoin, and major banks are integrating Bitcoin transactions into their business. If you want to buy Bitcoin in 2021, you’re definitely not doing anything wrong.
Ethereum is the second largest cryptocurrency. It is based on the Ethereum network, which allows program developers to create their own cryptocurrencies and smart contracts.
Moreover, it has experienced tremendous growth over the past five years. Its prices rose from €9 to over €2,500, an increase of over 27,000%. Head here for our guide on how to buy Ethereum.
Binance Coin (BNB).
The Binance platform entered the crypto market in 2017 and has since become one of the largest crypto exchanges in the world. Binance Coin is one of the top six cryptocurrencies.
The excellent performance of Binance has made it a more stable investment option with less risks. You can use it for trading, making payments, booking travel, or even exchanging it for other cryptocurrencies like Bitcoin and Ethereum.
The method speeds up transaction time and reduces energy consumption and emissions. Cardano’s smart contracts and decentralized applications are powered by ADA (the native token). Cardano has grown rapidly in 2021which is a good reason to buy Cardano.
This is a stable coin backed by fiat currencies like the US dollar and the euro. Therefore, Tether keeps its value equal to one of these denominations. In other words, the value of Tether is more consistent compared to other cryptocurrencies.
If you are new to the crypto world and looking for a digital currency to invest in, you could try any of the coins listed above….
But you also have to keep in mind that it is no longer possible to get rich quick with cryptocurrencies. Rather, it is a long-term investment.
Before committing to a particular cryptocurrency, it is advisable to weigh all the pros and cons. Cryptos are very volatile and it is hard to predict the market behavior. So, one should choose a cryptocurrency wisely. But there is nothing stopping you from giving it a try today.